Asian markets opened with a fall in oil prices, influenced by the prospect of negotiations between the US and Iran.

Oil prices fell in early Asian trading as the US and Iran are expected to hold talks, which could reduce supply disruptions. WTI crude oil futures for the near month fell by 1.7% to $88.07 a barrel, while Brent crude oil futures for the near month fell by 1.0% to $94.55 a barrel. US negotiators are expected to arrive in Pakistan this week for talks with Iran. The Wall Street Journal reported, citing sources, that Iran has informed regional mediators that it will send a negotiating team to Islamabad on Tuesday. Senior market analyst Nikos Tzabouras said in an email, "There is further room for oil prices to fall, as both sides have strong incentives to end the conflict."